The stock market tumbled back to the 5,500 territory to end the shortened trading week on Wednesday as investors withheld their cash amid the coronavirus disease 2019 (Covid-19) pandemic and the government-imposed Luzon-wide lockdown. The benchmark ...
The stock market tumbled back to the 5,500 territory to end the shortened trading week on Wednesday as investors withheld their cash amid the coronavirus disease 2019 pandemic and the government-imposed Luzon-wide lockdown.
Philstocks Financial Inc. research associate Piper Chaucer Tan said the exchange had a “weak participation” due to the shortened trading week.“Investors [have been] keeping in cash [from] this volatile market, as shown in the weaker value turnover… Due to [the] enhanced community quarantine, the market has been averaging 6.3 billion, and today’s session only registered 4.1 billion,” Tan explained.
First Grade Finance Managing Director Astro del Castillo agreed, saying “investors are taking a pause considering the long holiday. It’s the last day of trading for the week; nobody would want to be caught in a long lull, especially given the uncertainty.”Regina Capital Development Corp. head of sales Luis Limlingan said “investors sold ahead of the long weekend as news of an additional $1-trillion stimulus from the US was priced in the day before.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MAP: Barangays with coronavirus cases in most affected Metro Manila citiesSee where the cases are at the barangay level in the 5 Metro Manila cities with the most coronavirus cases. COVID10PH
Read more »
Coronavirus mass testing for Metro Manila cops pushedAs more and more of his men contract COVID-19, Metro Manila’s highest-ranking police official said he was coordinating with hospitals to accommodate police officers for mass testing. | dexcabalzaINQ
Read more »
Duterte cancels Davao trip; to stay, work in Manila during Holy WeekMANILA, Philippines— President Rodrigo Duterte has canceled his trip to Davao City and opted to stay in Manila and work during the Holy Week, Malacañang said
Read more »
DSWD issues SAP checks to LGUs that met requirements for cash aid–IATFMANILA, Philippines— The Department of Social Welfare and Development (DSWD) has issued checks to Metro Manila local government units (LGUs) that have completed the requirements for the social
Read more »
Pandemic deals blow to plastic bag bans, plastic reduction – The Manila TimesPORTLAND, Oregon: Just weeks ago, cities and even states across the US were busy banning straws, limiting takeout containers and mandating that shoppers bring reusable bags or pay a small fee as the movement to eliminate single-use plastics took hold in mainstream America.
Read more »
RCBC nets P7.05B from bond offer – The Manila Times“It is an assurance for the investors in the capital markets that the bank will continue to be supportive of business activities despite the current challenges in the environment.”
Read more »